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28,000 shares at $0.0001 is $2.80 plus applicable commission. I'll give you $5.00 for your 2m shares.
I pocketed NOTHING. I get to (happily) keep my 650,625,000 shares. In addition, I will move full bore forward with RLA. The cousin company, NOT part of ATYG, is meant to be worked for the smaller investor and smaller advertiser. It's a matter of diversity. I am still trying to raise the needed capital to bolster RLA forward (ideally about $300k), and will work to raise it with private equity so that I am not raising this capital by having to ask the new CEO to issue shares. The amount of needed start up capital for AdverWrap Media is considerably less - about $50k.
OK, before you all tie me to a post without a blindfold and throw stones...
I said the news was related to franchise restructuring and a promotion for RLA. Guess what? THAT'S WHAT IT IS!!! This restructuring plan did not come easily, and it is made to stimulate franchise sales. RLA does not earn its revenues by selling franchises as much as it does by helping franchises succeed and earning its monthly percentage of those revenues. The more locations, the more revenues. The news regarding the "cousin" company is not quite ready - I am going back through numbers over the weekend to be sure what we put out is what we can do. I've always said better to be late and accurate, than post in haste and be wrong.
Lastly, for all of you pushing me to release on Marketwire - if any of you would like to put up the $500-600 per release they charge, I'm happy to do it on your dime. As for ATYG news, I mentioned quite a while back I signed a new team in place to handle ATYG company and share restructuring. It's difficult, meticulous, detailed work, and I've encouraged the team that we announce NOTHING until everyone is on board that the news will be accurate and detailed. You want the truth? You're entitled to the truth. YOU CAN HANDLE THE TRUTH!!! It took upwards of three years to bring the company into its somewhat disheveled place - it's going to take some time to map out and execute how it is fixed. Thy will be done.
As the team works, most of my focus will be on RLA and the launch of the new "cousin" company.
Atlas Technology Group: 2013 Year in Review and a 2014 Preview
3:30pm EST December 31, 2013
DOVER, NH: Atlas Technology Group (OTC:ATYG), year in review and 2014 preview.
2013: Year in Review
It’s been a challenging year.
The company had a modest, but productive Q1 2013 looking forward to added capital and a plan to stabilize the share structure. Much of Q2 2013 was invested reducing the float by just over 1 billion shares.
“It appeared we had some good momentum going into the reducing of the float, especially after a positive first quarter,” says Atlas CEO James Albion. “But shareholder support dried up, and our buyback and float reduction hit a wall, and we just never got moving forward again.”
The Company has decided the buyback will not be re-engaged.
Another setback came when the remaining Racing Limos franchisees had concerns regarding the ownership issues of Racing Limos®. “We’ve been dealing with the transition longer than we anticipated,” says Albion, “but that was actually decided a while back, satisfying the acquisition through a combination of cash and debt. Money is still owed to the previous owner, but it is owed through a third party firm.”
Albion continued, “we’ve run into difficulties with the franchisees and, basically, they are rebelling.” The “rebellion” has meant that Racing Limos America™ has received no franchisee payments from any franchisees since August. “This has caused tremendous financial strain on the business,” says Albion, “but we have just recently resolved that issue.”
In the final days of 2013, the light at the end of this tunnel has appeared. “Through an introduction by a business acquaintance,” reports Albion. “We are going to work with a group that specializes in share structure and company infrastructure cleanup of companies like ATYG who have struggled. Candidly, it’s the best news we’ve had for quite some time.”
Looking ahead: 2014
Our social media and public communication has been lacking. That will be fixed in early 2014.
In the first few days of the New Year, ATYG is completing an acquisition within the Racing Limos America™ family. The addition of Cool Limos™ will add investment and revenue opportunities to the limo marketing that Racing Limos America™ has planned for this year.
“Once the acquisition is complete, which we expect sometime in January, we will make an announcement and introduce to you our new Officer and Partner.”
In January, ATYG plans to execute the necessary actions to bring the corporation current in Delaware, bring the company current with OTC Markets, and has started a process toward getting the DTC chill lifted. “Obviously there are no guarantees in getting our chill lifted,” says Albion. “But we finally have a firm, possible path that could result in having our chill lifted. If accomplished, we believe this will have a significant, positive effect on our stock, its liquidity, and our ability to make share structure decisions far more quickly and much less expensively.”
As to funding, ATYG was able to receive some small amounts of the expected funding, but it is believed the remainder is on the way during Q1 2014.
“Because we have made the decision to work with a group to restructure the company and its share structure, we can focus the funding on business expansion,” says Albion. “I know we’ve been down this road before (back in 2012), and things didn’t pan out. This time we feel more confident in the success of expanding the business because as our group focuses on ATYG, we can otherwise concentrate on the Racing Limos® and Cool Limos businesses.”
Plans are to open locations in Boston, Springfield (West MA), Hartford CT, and (finally) get Miami open.
“We have a potential franchise group interested in opening multiple locations in Connecticut,” says Albion. “If we can make this happen, we will have our new Officer to thank for that.”
During the first half of 2014, ATYG plans to launch a new company with a similar business model to Racing Limos America™, but with non-limo vehicles.
“I’ve been developing and fostering this business model for a few months,” says Albion. It will offer the opportunity for smaller businesses to afford marketing on cars at a less expensive rate than on the limos. In addition, it will be set up to help car owners afford their payments, and it will help banks reduce their costs of collection on delinquent car loans.”
Though the plan isn’t yet complete, Albion says he is working to include the assistance of banks, oil companies, car maintenance & repair shops, and car dealers in the process. “The goal is to forge a win-win scenario all around,” says Albion. “If the model benefits everyone, it can’t help but win.”
Albion says he has already received interest from numbers of people and businesses on all fronts. “I know we have a winner on this, and it will be a great revenue addition to the company.”
Last, the rumor mill squeezed out a whisper that a company has shown interest in acquiring ATYG. “We’ve recently been approached,” smiles Albion. “Things always look good after the first conference call. Let’s see where we are after more discussions.”
When asked to summarize, Albion lamented, “We’ve had a tough couple of years, but we truly feel 2014 will be a very good year for us.”
About Atlas Technology Group, Inc.
Headquartered in Dover, NH, Atlas Technology Group, Inc. is a holding company, with its primary holding being Racing Limos America, Inc.
Forward-looking Statements:
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
CONTACT: Atlas Technology Group, Inc. Investor Relations at (603) 285-0015 or by email at investorrelations@atyg.net
Maybe you are not aware, but selling stock is NOT revenues. This would be considered a infusion of capital and is NOT categorized as "revenue." As for my list of expenses under liabilities, etc., they are just that - liabilities that have yet to be paid. I try to accept a minimum amount of money that comes in so as to keep the business moving forward.
Of course, this comes back to the CEO is always a liar. Hmm. If you say the sky is green, and I say the sky is blue, it MUST be green, because everything a CEO says is a lie.
I will continue to address questions by email, etc. the best I can. Believe it, don't believe it; your choice. What I don't understand is if you think all pennies CEOs lie, then what the hell are you doing investing your hard-earned money in pennies?
Will be posting ATYG financials Monday. New format, more complete with more details.
In response to comments and accusations:
Office is a home office, being leased to both ZMJ and RLA/ATYG equally. In NH, it is essential to separate home from office. ZMJ pays on its office rent only. RLA owes ALL its office rent except for $975 paid on March 13. The office is 1600 sq. ft. Going rate (average) in our area for office space is about $16.50 psf including utilities.
I am trying to get financials finalized by end of month.
Brokerage house has been made aware that shares are being bought and are to immediately (after processing) be converted to certificates, then mailed back to TA for cancellation. My business consultant concurs with my attorney that this process gives no incentive for shorting, so it should not be an issue.
I am happy to address the issues regarding my companies and how they all relate. ATYG is a holding company. Racing Limos America (RLA) is a wholly owned subsidiary of ATYG. ZMJ Enterprises, Inc. is my privately owned management company and also does business under the trade name, ZMJ Advertising and Marketing, which is the ad agency I have owned and operated since 1992. Although I have moved almost all my efforts to RLA, I still have a couple of clients for which I do ad agency work. ATYG, at this moment, does not collect money; doesn't even gave a bank account, but will have a brokerage account by month's end for the purpose of the long talked-about stock buyback. There are no salaries, etc. from ATYG.
I collect $1 per year salary from RLA so as to minimize payroll pressure on its financials. My management company, ZMJ Enterprises, collects (or tries to collect) a monthly consulting fee from RLA. For the moment we minimize the payout to ZMJ to help RLA. My ad agency is the "agency of record" at this time, because it's my creativity and my agency's designers, expenses, etc. that do the marketing and pr work for RLA and ATYG. That work is invoiced from ZMJ Advertising to RLA. My compensation comes primarily from my ZMJ company, from ad agency clients, etc.
For the record, RLA, and ZMJ own a combined total of ZERO shares of ATYG. The only shares I personally own are 650m shares of restricted stock (still in certificate form) and 625k free-trade shares in an online account, of which we have never sold a single share back into the market for money or any reason. All shares are legally accounted for. All debt conversions are to third part debt holders. This means we get ZERO dollars of those conversions. All debt conversion money goes direct to the debtors to pay off those company debts.
Hope this answers questions about my companies, and concerns that I am somehow manipulating the stock price and/or situation.
I received this from a shareholder today: "Could I ask if you personally feel confident that it (funding) will all come in? Also if you don't mind me asking? Do you as CEO of ATYG feel better now about ATYG going forward than you ever have. Many wonder this, do you feel this is the "best" position the company has been in potential wise? Thank you, Mr. Albion." I wanted to answer this here...
I am confident that the funding we are anticipating will come in, but it could come in pieces. We're still not moving forward as quickly as I'd like, but working on it. We still have some obligations to fulfill, but closing in on the end. Once we clean up these final obligations, it's sunny skies ahead.
I believe we are positioning ourselves in such a way that we are moving the way we want. Our Q1 2013 financials will be finished and published by or before the end of the month. I believe 2013 will be a very good year for us.
Look for news today.
PatsFan,
Mr. CEO, Why don't you stop asking people to contact you privately via Email so you can ask them how to run your company and Publicly answer the questions concerning the statements you publicly made on this board in order to pump your stock.
When I ask someone for a private conversation, I think it's interesting and sad all at the same time that I must be doing so because of something negative. Also, I find your remark about "pumping the stock" offensive and insulting. If you ever want me to answer questions for you again, CUT THE CRAP. I have never before asked someone to contact me privately (that I can recall), so it's not a habit. I don't need assistance in how to run my company. If "sawtrader" chooses to make public my correspondence with him, I won't stop him, but would prefer he did not. Sometimes there are things going on that really are none of the business of the shareholders until such time as there is a result.
Miami?
I announced a "Letter of Intent" had been signed for the Miami franchise. That group has until September 30 to follow through with the purchase. We have been answering their questions, moving documents and applications back and forth, working out financing issues, etc. Unlike many shareholders who want to buy and sell over a 3-hour period, REAL BUSINESS often works in steps and phases, and these things take time, simple as that.
Indy?
We have been working on setting up Indianapolis while many other things are going on. There are processes within the State of Indiana that need to be developed and executed, as well as putting together the franchise itself, personnel, etc. It's a process, and I will NOT invest significant company money into ANYTHING in haste just because I have some impatient shareholders.
Canada?
Post 9-11 regulations and process is dramatically more complex. It's a lot of work and there are only a few of us. Doing the paperwork to open franchises in Canada does NOT mean there will suddenly be franchises open in Canada. It means we've had enough interest and inquiries to lay the groundwork to have the ability to market and open franchises in Canada.
Employees?
What about them?
Does Mr. Libby still work for You?
That remains to be seen. I haven't made any announcement on that because nothing is yet official. Mr. Libby and I are having philosophical and business differences, and we are presently trying to work them out. Mr. Libby is a VERY good man and has been a fine President for ATYG, and whether he stays or departs, he has been a positive influence on this company and on me personally. Once something is definite, it will be announced.
What happened to your franchises?
Same franchises are still operating as before, except we have suspended operations in Boston because we have been inundated with the national process, and found we were being neglectful enough to the franchise that we were doing more harm than good. Once things lighten up a bit, and we can find and hire a competent Manager, we fully intend to re-activate Boston.
What about the Attorney hired to investigate short sales?
The attorney looked into the shorting and has basically said that YES there is shorting going on, but at this point, there is little we can do about it without spending significant money to pursue it. Now would you rather we spend our money pursuing that, or investing the money to grow the company? At this point, we have decided that though this will be ongoing and we will eventually pursue this matter with more vigor, what's best for the company right now is to invest in its growth.
Come on!!! Back up your statements with facts.
The above is what I know up to this minute, and what I'm willing to share.
--
Respectfully,
James J. Albion, CEO, Chairman
Atlas Technology Group, Inc.
Sawtrader - you have some interesting points that I would like to first discuss by email. Please email me at investwithus@racinglimosamerica.com
This is James Albion, CEO of ATYG. I would like to reply to MONICALAW's message, because there is something here that is at the heart of the problems with this whole penny stock, day trading thing. First, my job is to plan, operate and grow this company, and as much as I sincerely appreciate shareholder feedback and inquiries, I cannot spend all my time responding to the wheel barrel of emails I get constantly from shareholders. I reply when I can and say as much as I am permitted to say without breaching regulations. In addressing, "...integrity to encourage me to buy millions in the future..." THEREIN LIES THE PROBLEM. That's what "pump and dumps" are all about - gushing out news to "encourage" people to buy, then selling off for the sake of self interest, leaving shareholders hanging. I WON'T DO IT, simple as that. Business works in months and years. June was a slow news month, and I don't feel obligated to just dump some news out there for no good reason. When there is news, it's out there. Based on what we communicate publicly is how all of you will decide whether to sell, hold, or buy our stock. Don't misunderstand, we appreciate anyone who invests their hard earned dollars in our stock. It is precisely for that reason that when we release news, IT'S NEWS!
Teff, why reply when you've made it clear I am not who I say I am? Is it not a waste of my time when you've decided I'm being insincere and dishonest with every post? Nonetheless, the company, first of all, is NOT a shell. YES, purchased rights and "ownership" (shareholders actually own the company) to company from JJ, in cash, in full. He owns no debt on us, and according to records, owns not a single share of our stock at present.
Oh, I don't spend all that much time reading this stuff, but something catches my eye or one of my guy's eyes on occasion. I can stop reading and responding completely if it makes you feel better. OK, as to your questions: I am unaware of Jarvis or Eldridge being involved at all; by our records, JJ has no ATYG shares; JJ does not have any convert authority, so no; what does "TIA" mean?
The person who "did this" to ATYG (among others) is now in the middle of an FBI investigation, and is being hit with (from what I've been told) 4 other SEC complaints. The stock is in a tough place right now, but as I've said before, business works in years. If you bought Google at its IPO ($110) or when I first bought Apple for my wife's IRA ($68) you'd be in a VERY good place right now. Keep an eye out for more news over January.
Good morning, and HAPPY NEW YEAR! Jim Albion here just to let you know that, well, I'm still here! As difficult as 2011 was for our company and our stock, we're still standing. I often say, "opening your eyes in the morning is half the battle" and, "business works in years." It's a fast world out there, and everyone wants everything to happen NOW-NOW-NOW. Building a business model for a company from scratch is not easy and takes time, especially when you get "bad guys" throwing knives at you along the way. But we're here; a new year. There is strategy in place and further plans being developed. Clearly we have no guarantees but I am looking forward to this being our BREAKOUT year. Have some fun today, because tomorrow, the work for 2012 begins again!
I am James Albion, CEO of ATYG. I know you are all concerned about what has happened recently. We're here for the long haul, and our projections and objectives remain as such. Best thing you can all do is keep an eye on our news. Thanks.